Exxonmobil Investment Management Inc Tx Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Exxonmobil Investment Management Inc Tx reduced its stake in Raytheon Company by 1.98% during the most recent quarter end. The investment management company now holds a total of 75,348 shares of Raytheon Company which is valued at $10,306,099 after selling 1,525 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Raytheon Company makes up approximately 0.22% of Exxonmobil Investment Management Inc Tx’s portfolio.

Other Hedge Funds, Including , Arvest Bank Trust Division sold out all of its stake in RTN during the most recent quarter. The investment firm sold 1,956 shares of RTN which is valued $267,542.Eqis Capital Management boosted its stake in RTN in the latest quarter, The investment management firm added 198 additional shares and now holds a total of 2,080 shares of Raytheon Company which is valued at $285,230. Raytheon Company makes up approx 0.02% of Eqis Capital Management’s portfolio.West Oak Capital boosted its stake in RTN in the latest quarter, The investment management firm added 4,474 additional shares and now holds a total of 4,773 shares of Raytheon Company which is valued at $654,521. Raytheon Company makes up approx 0.45% of West Oak Capital’s portfolio.

Raytheon Company closed down -1.47 points or -1.06% at $136.78 with 16,14,942 shares getting traded on Friday. Post opening the session at $137.39, the shares hit an intraday low of $136.58 and an intraday high of $137.56 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Raytheon Company reported $1.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.77. The company had revenue of $6035.00 million for the quarter, compared to analysts expectations of $5832.99 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS.

Many Wall Street Analysts have commented on Raytheon Company. Company shares were Reiterated by Stifel on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 160 from a previous price target of $140 .

Raytheon Company together with its subsidiaries is a technology Company that specializes in defense and other Government markets. The Company develops products services and solutions in markets: sensing; effects; command control communications and intelligence (C3I); and mission support as well as cyber and information security. The Company operates in four segments: Integrated Defense Systems (IDS); Intelligence Information and Services; Missile Systems and Space and Airborne Systems. The Company serves both domestic and international customers as both a prime contractor and subcontractor on a portfolio of defense and related programs primarily for Government customers. The Company’s products include Global Integrated Sensors Integrated Air & Missile Defense Cybersecurity and Special Missions Global Training Solutions Land Warfare Systems Advanced Missile Systems Tactical Airborne Systems Advanced Missile Systems and Electronic Warfare Systems.

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